Why are you not buying?

Shambo

Simple really- what is the No 1 reason why you are NOT going to buy a house?

EDIT- Mine is fear of losing my job

SoupyNorman

There should be a rule that the OP must put their view forth, seems like such lazy Threadstarting.


Anyhoo, my reasons are a culmination of prices too expensive, renting is cheap and im currently saving a deposit.

There has been lots and lots of discussion about buying property, it's been exhausted really. I'm going to just sit back and let the market do its thing...will be signing another 12month lease soon so it'll be at least that before I'll think about buying, come my new lease I'll be paying 140-200 less per month out of my monthly wage which will mostly go into my savings, some will be on booze.

mickeymoney

Negative equity - Prices will dip more and there is the great unknown of how low they will go. There is another boards survey and more than 30% think it will be 2012+ before things bottom out. Its likely things wont shoot back up quickly as well.

Unemployment - Is it 1000 people a day loosing their jobs? Will I have to exit the country in a few years leaving the keys in the door? And I will never get a loan again. I dont want to repent at leisure having made a huge mistake.

J-blk

I chose "prices are still too expensive" but the fact that I'd be in negative equity very quickly is a very close number 2 reason TBH. I wasn't born and raised in Ireland and it took me awhile to get over the cost of owning a house, especially in Dublin - and even now I think most places are stupidly priced. I'd also say I'm used to renting (not happy about it, just used to it as a long term thing) as it is much more common in continental Europe for people to rent all their lives, rather than buy...

Firetrap

A couple of reasons

The main one is that prices are still too high. Followed closely by the negative equity issue. I freely admit I am sick of renting but I'm in no hurry to buy something that's steadily falling in value. Leaving aside those issues, I don't think I want to commit to a mortgage, not knowing what I'll be earning in a year's time. This year has seen pay cuts and increased taxes.

leonardjos

SoupyNorman wrote: »

There has been lots and lots of discussion about buying property, it's been exhausted really. I'm going to just sit back and let the market do its thing...

I would second that emotion. I haven't been monitoring the property market half as long as most posters here, but I'm getting bored of it now too. I'm going to observe property prices on a part-time basis going forward, and seriously revisit the idea of buying no earlier than 12 months from now. I think more time is simply needed to let vendors digest reality.

My answer to the poll is "prices are still too expensive".

Mr. Presentable

None of the above. I already own enough accomodation.

Barr

House prices should fall further - its worth waiting

Sarn

I went for "I'll be in negative equity rather quickly." I haven't looked at house prices to buy for about 3 years now, there has just been no point. Another 12-18 months should do it.

Freddie59

Sarn wrote: »

I went for "I'll be in negative equity rather quickly." I haven't looked at house prices to buy for about 3 years now, there has just been no point. Another 12-18 months should do it.

Same here. We may buy a little sooner than that, should the right bargain come along.

Tipsy Mac

I'd say there's a good 30-40% drop to come, when the houses that people can't afford are repossessed in the early part of next year when the 1 year exemption has expired the market will be flooded with cheap houses that will drop prices further.

faceman

No matter what price a house is it will always be too expensive. My first house was too expensive yet would be considered cheap by many people. I remember in the 90's when my friend's auntie bought a 2 bed appartment in Rathgar for 80k and that was too expensive...

A more appropriate option would be I cant afford it.

IanCurtis

nipplenuts wrote: »

None of the above. I already own enough accomodation.

Oh Christ